Investor Presentaiton

Improving Debt Structure 84% of total financial debt is long-term Net Debt and Short-term Debt Share Net Debt, US$ mln 4,000 3,711 3,552 3,656 3,698 30% 3,500 25% 27% 3,000 18% 20% 2,500 16% 14% 2,000 15% 1,500 10% 1,000 5% 500 0 + 0% 2010 2011 2012 9m2013 Net Debt, US$ mln Share of Short-term Debt, % Source: TMK data Over US$1 bln committed credit lines maturing up to 2016 Only 14% of debt is secured with assets and mortgages More than US$1bln of undrawn committed credit lines to cover short-term Debt 1,200 U.S.$ mln ■ Utilized Credit Facilities 1,000 ■ Unutilized Credit Facilities 800 600 400 200 0 2014 2015 Source: TMK Management Accounts, figures based on non-IFRS measures, estimates from TMK management 2016 Unlimited Share of ST Debt, % 30 TMK

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